Bicara Therapeutics Q3 net loss widens on higher R&D costs

Overview

• US biopharma posted wider Q3 net loss as R&D and admin costs increased

• Company ended Q3 with $442.3 mln in cash and projects funding into H1 2029

• Substantial enrollment in pivotal trial for HPV-negative head and neck cancer; interim results due mid-2027

Outlook

• Company expects topline results from FORTIFI-HN01 interim analysis in mid-2027

• Company expects FORTIFI-FLEX study data by potential US approval in 1L R/M HPV-negative HNSCC

• Company expects existing cash to fund operations into first half of 2029

Result Drivers

• TRIAL COSTS - Higher R&D expenses driven by ongoing pivotal and alternate dosing trials, plus expanded dose cohorts and personnel costs

• ORGANIZATION EXPANSION - Increased admin costs due to personnel and professional fees as company prepares for potential commercialization

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Bicara Therapeutics Inc is $35.50, about 310.4% above its November 6 closing price of $8.65

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)